Capital One Vs. Bank Of America: Which Bank Is Better For You?
The competition between capital one and bank of America has been going on for years and the debate is still not over. The two companies are fighting for the same customer base and the fight is very intense.
Both the banks are fighting with each other for the best customer service and the best rewards program. But which one is better for you? Let’s have a look at the differences between the two banks.
Capital One
Capital One is the largest bank in the United States; it was founded in 2000 and has more than 15 million customers. It offers various products like credit cards, checking account, auto loans, and mortgages. Capital One offers 0% APR for the first 12 months on purchases and balance transfers.
Bank of America
Bank of America is one of the oldest and largest banks in the United States. It was founded in 1850 and has more than 19 million customers. Bank of America offers various products like checking account, home loans, and credit cards. Bank of America offers 0% APR for the first 12 months on purchases and balance transfers.
The two banks are fighting for the same customer base and the fight is very intense. But which one is better for you? Let’s have a look at the differences between the two banks.
Capital One vs Bank of America:
1. Checking Account
Both the banks offer checking account but there is a difference in the amount of money you can keep in it.
If you have a checking account with Capital One then you will get $600 in your account after opening it. But if you have a checking account with Bank of America then you will get $750 in your account after opening it.
2. Customer Service
Capital One offers excellent customer service compared to Bank of America. They have trained staffs that are available 24/7 and they are ready to help you anytime. The customer support team of Capital One is available online and on the phone.
Bank of America doesn’t provide any customer service and they don’t have any live chat option. They only provide the option to call them and the call center staff will be available 24/ 7
3. Credit Cards
Both the banks offer credit cards but there is a difference in the reward points. Capital One gives you 1% cash back on all the purchases you make on your card. If you use the card for 3 months then you will get $100 cash back.
Bank of America gives 2% cash back on all the purchases you make with your card. If you use the card for 6 months then you will get $100 cash back. So, Capital One is better than Bank of America.
4. Rewards Program
Capital One offer 10,000 reward points on your card and you can redeem them for various gift cards and merchandise. You can redeem your points for Amazon, Target, Walmart, Home Depot, and Best Buy.
Bank of America doesn’t have any reward points and they don’t have any rewards program. They only give you 0% APR for 12 months on purchases.
Conclusion:
I hope you liked this article about “Capital One vs Bank of America”. I have given you the differences between the two banks and I am sure you will choose Capital One over Bank of America.
